Valuation of a Golf Course

Discussion in 'Commercial Property' started by Kaz111, 20th May, 2015.

  1. Kaz111

    Kaz111 Bring it on!

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    Hi all,

    What is the best way to get a valuation for a golf course that is no longer used and the club is preparing to sell the land?

    I have been quoted $2000 by a firm in the area - Regional Victoria - for a valuation. Whilst I am happy to pay this, as it gives me knowledge as I would be up against large developers, I was just seeing if any one had any different thoughts.

    Cheers
    Kaz
     
  2. Ace in the Hole

    Ace in the Hole Don't compete, Dominate !

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    Sorry, can't help with advice, but interested in your plans.
     
  3. Scott No Mates

    Scott No Mates ...and people wonder why?

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    What's the zoning, likely zoning, highest and best use?

    How much of it is useable? How much is environment protection zone, flood prone, subject to easements?

    Is it close to a regional town or in the middle of nowhere?

    What would be the no. of sites it could yield? (ie will it be resi/commercial/ industrial/semi-rural lots/minimum lot size etc

    Try the API, they register the valuers in each state. Have specialist valuers including golf course bods.
     
  4. Kaz111

    Kaz111 Bring it on!

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    Thanks for the tip Scott. I will look into that.

    Ace. I would tell you, but then I would have to kill you :). But instead I'll PM you.

    Thanks again.
     
  5. topcropper

    topcropper waffleing speculator

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    Must be in the middle of nowhere surely? $2,000! Yet large developers are chasing it? LOL. Can't wait to hear more about this one.


    See ya's.
     
  6. BayView

    BayView Member

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    $2000 for the land, $5m for the legal battle with the Greenies.
     
  7. S.T

    S.T Member

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    $2000 is the cost to have the valuation done on this golf course is how I read it?!
     
  8. MRO

    MRO Member

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    Prepare your own DCF based on expected development cost, sales value and apropriate timing after allowing for you self determined developer margin. This is what the developer will be doing.
     
  9. Big Will

    Big Will Member

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    Same with me...
     
  10. Kaz111

    Kaz111 Bring it on!

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    I wish the land cost would be $2000! Thats just for the valuation. I spoke to my mortgage broker (gees you MB's are a knowledgeable lot) and he confirmed $2K for a valuation was about right.

    I'll keep you posted if anything further develops.
     
  11. Corey Batt

    Corey Batt Finance Broker

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    Commercial val, very much par for the course.
     
    Redom likes this.
  12. Kinnon Bell

    Kinnon Bell Member

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    That was pun-tastic :D
     
  13. Corey Batt

    Corey Batt Finance Broker

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    Hand on heart, that was completely unintentional!
     
  14. mflying

    mflying Property Developer

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    Ace, don't risk killing yourself over golf course:):):)

    there is one for sale, south strathfield/homebush ...much closer to home....
     
  15. Scott No Mates

    Scott No Mates ...and people wonder why?

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    Yep, seen that one too. It's been on the market for a while.

    It'd be a lot easier to sell off those blocks with a mix of medium density and smallish lots than to do it in the bush where demand fluctuates.